Should Terry sell the Phoenix?

Interesting piece in this morning’s Dom Post with an opinion from Councillor John Morrison that Terry Serepisos should start his climb back from financial woes by selling the Wellington Phoenix…

Mr Serepisos has made it clear the Phoenix is not for sale, even though he has proposed in the High Court an “orderly” sale of assets he says are worth $232m to repay debts of $203m.

But council sports portfolio leader John Morrison says Mr Serepisos should start any asset sale with the Phoenix. “This is the ultimate test for Terry. Does he really care about the Phoenix or is he going to destroy it?

“If he stuck up his hand and said: `I love the Phoenix but I’m not in a position to continue to fund it’, with the recession, downturn in the property market, and his well-documented financial troubles, then everyone would accept that.

“He could work with whoever and would end up as being founding president of the club. Everyone would recognise his valuable contribution and applaud him at Phoenix matches.”

Of course, the elephant in the room that Morrison doesn’t address is just who would buy the team? Is this something that ratepayers money should go towards?


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